Here is the synopsis of our sample research paper on Accounting Questions. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 5 page paper answers questions concerning the way account takes place. The first looks at a case study to examine the way the practices fit in with the hierarchy of accounting qualities. The paper then considers the way in which accounting standards are set within the US and discusses whether the standards should be the same for all types of organization.
Page Count:
5 pages (~225 words per page)
File: TS14_TEaccqu2.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
considered in terms of the Hierarchy of Accounting Qualities. This hierarchy is outlined in FASB 2 where relevance and reliability are the primary qualities. The information provided should increase the
reliability and the relevant co the accounts, subject to the requirement for materiality. If it can be argued that either reliability or relevance is missing then adding the information into
he accounts is not adding any value. Information is only relevant if it is timely, and is either predictive or provides feedback, or does both, it must also be
reliable and neutral. If we look at the way the information has been set out and the value that this may provide to those who use the annual accounts
as part of a decision making processes we can look at the different transactions and consider the way the information will be used. In this case we need to look
not only at the annual accounts and the impact the transaction will have on the following years account, but there is also the proposed secondary public offering and there will
be a high reliance placed on the annual accounts by potential investors. The first transaction is for a sale that has not yet been made, the customer has the
computers on a trial basis and they have paid a deposit of $20,000 which they will forfeit if they do not keep the computers at the end of the trial.
The full price of $400,000 has been recognised. This may be seen as risky as there is no guarantee that the revenue will be realised and under the convention of
purchase revenue should only be realised when it is certain. However, the work has been done and the goods supplied also under the matching concept it may be argued that
...